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If the rate of economic growth for the U.S. economy in a given year, measured by the percentage increase in real GDP, was 4%,

(a) inflation that year was also 4%.
(b) the unemployment rate that year was also 4%.
(c) aggregate nominal income grew by 4% that year.
(d) aggregate real income also grew by 4% that year.
(e) aggregate real income didn't grow at all that year

2007-02-26 09:48:29 · 1 answers · asked by matty g 1 in Social Science Economics

1 answers

The answer is d. Real GDP is the national income in real terms. Thus, aggregate real income also grew by 4% that year.

2007-02-26 10:04:48 · answer #1 · answered by theeconomicsguy 5 · 0 0

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